Larsen & Turbo Ltd.’s share price gained 1.79% after its Hydrocarbon Onshore business arm received an ultra-mega order for setting up a Natural Gas Liquids plant allied facilities in the Middle East.
“L&T has won the order in consortium with the Greece-headquartered Consolidated Contractors Group S.A.L”, the company said in an exchange filing submitted on Thursday.
The scope of work encompasses engineering, procurement, construction, installation and commissioning of a Natural Gas Liquids plant and allied facilities for processing Rich Associated Gas (RAG). This also involves all associated utilities and offsite and integration with existing facilities, the company said.
Under the arrangement, L&T, as the lead partner, will be responsible for engineering and procurement; CCC will handle the construction activities. The RAG sourced from offshore and onshore oil fields will be treated at the plant to remove impurities like H2S, CO2 and H2O, producing value-added products such as lean sales gas, ethane, propane, butane and hydrocarbon condensate.
Notably, L&T classifies an ultra-mega order as an order ranging over Rs 15,000 crore.
